Corporate news, markets & economy — East & West Africa
EAST AFRICA
KENYA- Total Outre-Mer, which owns Total Kenya, will have taken home Sh1.3 billion dividend in four years when shareholders pass the proposal to pay 77 cents a share in the annual general meeting coming early next month. (BUSINESS NEWS AFRICA) READ MORE
KENYA- The Nairobi Coffee Exchange (NCE) will go for a 30-day recess next month as the main crop season in central Kenya comes to an end. (BUSINESS DAILY AFRICA) READ MORE
UGANDA- When Uganda’s often sticky downtrend in fuel prices have been at lows last seen in 2010. Pump prices have for the last one month been at an average of Shs3,150 for a litre of petrol and Shs2,450 for a litre of diesel right across the country. (MONITOR) READ MORE
KENYA- Some 8,500 super wealthy individuals now control more than two thirds of Kenya’s Sh6.2 trillion economy, a newly released wealth report says revealing a widening gap between the rich and the poor. (BUSINESS DAILY AFRICA) READ MORE
TANZANIA — Tanzania plans to invest $1.9 billion each year by 2025 in energy projects in a bid to end power shortages and boost industrial growth in East Africa’s second-biggest economy, its prime minister said. (REUTERS) READ MORE
RWANDA- A delegation of Polish investors is in Rwanda to explore investment opportunities in various sectors of the economy. (NEW TIMES) READ MORE
WEST AFRICA
NIGERIA- The stock market rebounded yesterday rising by 0.80 per cent in reaction to the decision of the Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) to address the lingering concern around the exchange rate among others issues. (BUSINESS NEWS) READ MORE
NIGERIA- The Federal Government on Tuesday said it had recorded savings of about N220bn since April 2007 when it commenced the implementation of the Integrated Personnel Payroll Information System. (BUSINESS NEWS) READ MORE
GHANA- Activa International Insurance Company, has presented a cheque for GH¢30,000 as a sponsorship support to the Sports Writers Association of Ghana (SWAG) towards the smooth organization of this year’s SWAG Awards Night slated for Saturday, June 4, 2016 at the State Banquet Hall, Accra. (MY JOY ONLINE) READ MORE
LIBERIA — A grand jury in Liberia on Wednesday indicted government officials, including the speaker of parliament and the head of the ruling party, along with London AIM-listed Sable Mining on charges including bribery. (REUTERS) READ MORE
GHANA- The Bank of Ghana (BoG) has issued a 500 million Ghana cedi bond today to help government raise funds to restructure its debt and maturity settlement. (GHANA WEB) READ MORE
SENEGAL — French development agency PROPARCO will provide an 18-year 35.5 million euro ($39.54 million) loan to finance the construction and operation of a solar energy plant in Senegal, which it says will be the largest of its kind in West Africa. READ MORE
NIGERIA- Foreign exchange (forex) crisis is not a disincentive for serious businesses interested in making huge investments in the Nigerian economy, Chairman of East Hem Liquids, Ed Ukaonu, has said. (THE NATION LINE NG) READ MORE
